1832 Asset Management L.P. Sells 96,160 Shares of monday.com Ltd. $MNDY

1832 Asset Management L.P. trimmed its holdings in monday.com Ltd. (NASDAQ:MNDY) by 20.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 379,840 shares of the company’s stock after selling 96,160 shares during the period. 1832 Asset Management L.P.’s holdings in monday.com were worth $119,452,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sands Capital Alternatives LLC increased its stake in monday.com by 16.9% in the 2nd quarter. Sands Capital Alternatives LLC now owns 58,336 shares of the company’s stock worth $18,346,000 after acquiring an additional 8,428 shares during the last quarter. Sands Capital Management LLC grew its stake in shares of monday.com by 1.3% in the second quarter. Sands Capital Management LLC now owns 116,591 shares of the company’s stock worth $36,666,000 after purchasing an additional 1,550 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in monday.com by 110.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 78,660 shares of the company’s stock worth $24,737,000 after acquiring an additional 41,238 shares during the period. M&T Bank Corp increased its position in shares of monday.com by 2.3% during the second quarter. M&T Bank Corp now owns 13,715 shares of the company’s stock valued at $4,314,000 after buying an additional 306 shares during the period. Finally, Dilation Capital Management LP bought a new position in shares of monday.com in the 2nd quarter worth approximately $11,192,000. 73.70% of the stock is owned by institutional investors.

monday.com Stock Performance

Shares of MNDY stock opened at $152.52 on Thursday. monday.com Ltd. has a fifty-two week low of $141.20 and a fifty-two week high of $342.64. The firm has a market capitalization of $7.74 billion, a price-to-earnings ratio of 124.00, a PEG ratio of 5.87 and a beta of 1.27. The stock’s 50-day simple moving average is $177.14 and its 200-day simple moving average is $227.14.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings data on Monday, November 10th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.89 by $0.27. The business had revenue of $316.86 million during the quarter, compared to the consensus estimate of $312.26 million. monday.com had a net margin of 5.58% and a return on equity of 5.99%. The business’s revenue for the quarter was up 26.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.85 earnings per share. As a group, equities analysts forecast that monday.com Ltd. will post 0.46 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Piper Sandler lowered their price target on monday.com from $275.00 to $250.00 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. Cantor Fitzgerald cut their target price on shares of monday.com from $286.00 to $257.00 and set an “overweight” rating for the company in a research report on Thursday, September 18th. TD Cowen decreased their price objective on shares of monday.com from $360.00 to $290.00 and set a “buy” rating on the stock in a research report on Tuesday, August 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $250.00 target price on shares of monday.com in a report on Thursday, September 18th. Finally, JPMorgan Chase & Co. lowered their price target on monday.com from $285.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $270.19.

monday.com Profile

monday.com Ltd., together with its subsidiaries, develops software applications in the United States, Europe, the Middle East, Africa, the United Kingdom, and internationally. The company provides Work OS, a cloud-based visual work operating system that consists of modular building blocks used and assembled to create software applications and work management tools.